Financial Math Trivia Quiz! Test

8 Questions | Total Attempts: 52

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Financial Math Trivia Quiz! Test - Quiz

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Questions and Answers
  • 1. 
    Monwabisi invests R25 000 for 5 years at 12% per annum, compounded annually. Determine the amount that he will receive after 5 years. (round off to the nearest rand)
    • A. 

      44058

    • B. 

      762

    • C. 

      44059

    • D. 

      3923

  • 2. 
    Calculate the value of an investment of R10 000 that earns simple interest of 6.75% per annum over 6 months. (round off to the nearest rand)
    • A. 

      10335

    • B. 

      10328

    • C. 

      9949

    • D. 

      10338

  • 3. 
    A particular car was bought for R75 000. What will the book value of the car be after 5 years if the rate of depreciation is 16% per annum, where the depreciation is based on the straight-line method. (round off to the nearest rand)
    • A. 

      15005

    • B. 

      14900

    • C. 

      15000

    • D. 

      15765

  • 4. 
    A loan of R100 000 is repaid over 20 years by means of equal monthly installments starting 1 month after the loan was granted. The interest rate is 15% per annum compounded monthly. What is the future value of the loan over 20 years. (round off to the nearest rand)
    • A. 

      199847

    • B. 

      257698

    • C. 

      1971549

    • D. 

      589362

  • 5. 
    A man wants to make an investment that will be worth R50 000 after 10 years. What amount must he invest now if interest is calculated at 12% per annum compounded annually. (round off to the nearest rand)
    • A. 

      16989

    • B. 

      16099

    • C. 

      16199

    • D. 

      16009

  • 6. 
    An amount of x rand was invested at an interest rate of 12% per annum compounded quarterly. After 5 years the investment has grown to R1 806.11. Calculate the value of x correct to the nearest rand.
    • A. 

      1000

    • B. 

      1010

    • C. 

      998

    • D. 

      2589

  • 7. 
    Fausia and Nonhlanhla each have R1500. Fausia invests her money for 5 years at 10 % per annum compounded monthly. Nonhlanhla invests her R1500 for 5 years at 10% per annum compounded half-yearly. What is the difference in their accrued amounts at the end of the 5 year period? (round off to the nearest rand)
    • A. 

      102

    • B. 

      56

    • C. 

      16

    • D. 

      25

  • 8. 
    Karabo's investment grows from R7000 to R9304.60 in a period of three years. Interest is compounded quarterly. What is (a) the effective interest rate on investment and (b) nominal interest rate on investment. (round off to 2 decimal places)
    • A. 

      9.60%; 9.54%

    • B. 

      9.60%; 9.95%

    • C. 

      2.4%; 2.52%

    • D. 

      3.57%; 7.24%

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